There are a lot of ways to measure success as an attorney. Many of the ways lawyers measure their own successes are backwards-looking. Whether focusing on past educational accomplishments or big deals or cases they have participated in, lawyers love to focus on what they have done.
There is nothing wrong with that, unless it prevents someone from focusing on what truly is important: the present. And for practicing lawyers, and those who intend to keep on practicing, there is only one question relating to the present that matters: “Who thinks of me as their lawyer?”
A time-sensitive matter comes in. An experienced hand is needed to help. Where to look for that help? In Biglaw, the answer is usually an easy one: call up Partner No. 37 in distinguished branch office No. 6, and keep the billable hours rolling — with a happy nod towards a successful “cross-sell,” and instant validation of the underlying “size is good” concept behind so many of today’s firms. But is Partner No. 37 really the best lawyer to help out? Hard to believe that the answer is “yes” more often than not. Because Biglaw firms are constructed the way they are, however, there is a premium on making sure that existing firm resources are utilized as much as possible.
At the same time, we know the legal industry is struggling to cope with demand fluctuations, or all too often a lack of demand for expensive legal services. In the current environment, it is not a surprise to see Biglaw firms contorting themselves to reach optimal size, whether through mergers, layoffs, or lateral growth. Despite their efforts, there are very few firms that are optimally size-calibrated in relation to the demand for their services. For those firms fortunate enough to experience the occasional demand spike, retaining the ability to be nimble on staffing can mean the difference between a satisfied client or one who looks elsewhere “next time there is a big need.” Firms want repeat business, and being able to incorporate experienced additional lawyers — within the budget for a particular matter — onto the legal team can make a real difference in whether or not that repeat business happens.
But where else can firms (of all sizes) go for experienced help on short notice?
On September 4, Bill Simmons wrote a column for Grantland regarding the National Football League, titled “The League That Never Sleeps.” Since then, the NFL has remained in the headlines on a daily basis, scarred by a near-constant stream of negative news concerning off-field incidents involving current players. Apart from the escalation of unseemly episodes we have seen recently, the NFL is also struggling with potentially existence-threatening legal issues relating to the harm suffered by players due to the inherent violence of the sport. At the same time, the NFL remains the biggest show (especially from a TV ratings standpoint) in town, and the league has never been more profitable.
Do I need to spell out the parallels with Biglaw? Record profitability, coupled with record instability. It is a wonder that we don’t see Biglaw behemoths sponsoring the halftime clash between two local Pee-Wee teams at NFL stadiums….
At this stage of my career, I am pretty removed from the Biglaw associate recruiting scene. So I don’t know if firms have finished hiring their summer associates for summer 2015, or whether current 2Ls are evaluating offers and deciding which firm to join. While I was in Biglaw, I was very involved in supporting the recruiting department’s efforts, whether it was serving as a summer associate mentor or interviewing lateral candidates. So I know how seriously the process is taken by both Biglaw firms and the candidates.
As serious a business as recruiting is, however, it is often difficult for students and lateral candidates to distinguish between firms. Sure, enterprising law students and associates can study PPP or “prestige” charts in the American Lawyer or on Vault, or even take advantage of the vastly improved research tools for associates on sites like this one (including ATL’s law firm directory). Even more enterprising candidates will take advantage of their networks to solicit “real-world” feedback about the associate experience at firms from current and former employees of those firms. In sum, there is plenty of information, both collected and anecdotal, for young lawyers to consider when they are lucky and accomplished enough to have earned the right to choose between Biglaw firms vying for their services.
It is great that all this information is now available. But I think what younger lawyers would benefit from most is direction as to what information is worthy of focusing on, especially when making critical career decisions.
Last week’s column discussed the underappreciated role that second chairs play in modern litigation practice. But how best to fill the role, once it is earned?
The easy answer is fanatical preparation. Meaning you will need to prepare for every hearing, no matter how minor, as if you were going to be handling the argument yourself. Or if you are at trial, and supporting another lawyer on the testimony (be it direct or cross) of a witness, preparing as if you were conducting the examination. Apply the “laryngitis test” if you need motivation, as in what would you do if the first chair woke up that morning without a voice? Knowing that you could be thrust into the spotlight on short notice should be motivation enough for thorough preparation.
But you also need to put that preparation to good use. Arguing in open court is difficult, for even the most seasoned advocates. If you are being asked to sit at counsel table, the idea is not for you to admire the wood paneling in the courtroom. The expectation is that you will put your knowledge of the case to work, by anticipating the flow of the argument, and making sure that whoever is arguing has any needed information readily available for immediate use. When your partner is speaking, that means keeping track of whether they will need to refer to a document along the way. Or whether they have forgotten to raise an important point. For that latter reason, working out a non-intrusive note passing system in advance can be worthwhile. The key is not to disturb the flow of the argument, but to enhance its effectiveness. If you have nothing to contribute, you should not be sitting there wasting the client’s money. The need to be “active” does not give license to hijack the hearing or cause distraction, of course. Engaged listening at all times and sparing active participation are the better approach in almost all cases.
There are certain legal skills of critical importance that receive the same level of attention as a mid-summer pilot for a sitcom not expected to make it to the fall slate. In fact, there is usually a disconnect, particularly in Biglaw, between what is “taught” and what lawyers really need to learn as they develop. A recent anniversary of sorts reminded me of an example. Let’s discuss the notably unglamorous, but often critically important, role of “second chair” at a hearing or trial.
For the uninitiated, the typical hierarchy on a litigation matter for lawyers is support (faceless associate research drones), team member (associate or higher who is “on the case” but may not even get to sit at counsel table), second chair (trusty lieutenant, perhaps content in the role, or perhaps gunning for more), and first chair (field marshal winning the war and the peace on behalf of a grateful if lighter-pocketed client.)
August is the anniversary of my first patent trial, well over a decade ago….
Let’s start with a definition. Merriam-Webster defines “autonomy” as “the state of existing or acting separately from others.” Meaning you have the proverbial “control over your own destiny,” or put another way, are not dependent on others. In many respects, complete autonomy is a fiction for a lawyer. We are all dependent — on our clients, our partners, our firms. But lawyers still value autonomy. It may be elusive, particularly in Biglaw, but it is an important contributor to career satisfaction and performance.
In fact, earning a significant degree of autonomy was among the leading factors in making my Biglaw experience a positive one. Yes, I said earned, rather than “being granted” or “given.” In Biglaw, you need to carve out personal space for yourself. It is not something that is given. Nor does anyone tell you what you need to do to earn your measure of independence. At a very high level, it is necessary to project both confidence and competence — to your clients, peers, and superiors, at all times. If you are successful, and earn some autonomy, there is a higher likelihood that you will be happy in your Biglaw job. Imagine that.
Perhaps surprisingly, your Biglaw firm actually wants you to have a degree of autonomy….
Whether you practice in Biglaw or a boutique, knowing how to email is a critical skill. In fact, the quality of a lawyer’s emails is an excellent indicator of that lawyer’s future career prospects (excepting those lawyers fortunate to be born with a guaranteed multimillion-dollar book of business through family connections). This should not be a surprise, considering how email is the single most used form of communication for lawyers. Yes, technology has liberated us from a full day’s work (with the help of a secretary) in order to prepare what would now be considered a routine client communication in the form of a fancy letter. But the need for a similar level of care in preparing today’s written communications has not changed. Show me an associate’s emails, and I (along with other former or current Biglaw partners) will have a very respectable success rate in guessing whether or not the associate is partnership material, even in the absence of other information about the author.
I have sent many thousands of emails in my legal career. I do not know how many of them would have been considered “good” emails, but I’d like to think that most of them were. I was fortunate, since I worked for a partner who stressed to me early on the importance of sending “good” emails.
If you need it, build it. We needed help. And we saw an opportunity. So we took action, and now have another business as a result. I’ll explain. The need was simple. Because of our work with investors interested in understanding how patent litigation events impact on their investments, we found ourselves needing to monitor many active patent cases, in addition to the cases we were litigating ourselves. At one point, we considered hiring an intern to help with this specific task, at least during the trading day. But we quickly realized that solving this problem required a software-based solution. So we set out to build one. We looked for something available that would do the job, and failed to find anything useful.
Thanks in no small measure to the talent of our programmer, what we built worked. We were able to get automated alerts of new docket entries and opinions directly to our email. And we could do so for multiple cases, alleviating the concern that we would miss an important opinion. Because our clients tend to have sizable investments, there is a premium placed on our ability to let them know of litigation events quickly and to interpret those events for them, so that they could protect their positions or initiate new ones, based on the recently released publicly available information. As a fail-safe, we began having the alerts sent directly to subscribers of our consulting services. And now we have decided to offer it publicly (www.litigationalpha.com) to fellow lawyers, retail investors, and whoever else can benefit from automated alerts generated based off District Courts docket entries and opinions….
Germany has won the World Cup. The final game was a low-scoring 1-0, but nonetheless a thrilling hair-puller of missed opportunities on both sides. The single goal, in minute 113, was an elegant, technically perfect two-touch volley — all the more impressive because it was delivered by a 22-year-old substitute who did not join the game until the second half.
The game was also a contrast of different playing styles. Argentina built its offence around a star striker, Lionel Messi, who was expected to execute a well-timed stroke of veritable futbol magic that would hopefully usher his country to its third World Cup victory. Backing him was a deep-sitting defense that repeatedly stifled German goal-scoring attempts, but was nevertheless not expected to score absent some Messi magic. By contrast, Germany lacked a superstar of the world-renown of Messi. Instead, its playing style prioritized short, deft, technical passing among the team as a whole. The victorious Germans carefully worked the ball through various mid-field channels until, eventually, it reached the back of the opponent’s net.
I am not an avid soccer fan, but like many Americans, I tune into the World Cup every four years. Who was I rooting for?
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: